Diamond In The Rough
Episode HINPR-413HSee all Episodes
April 14, 2014
7:30 AM e/p
Brendan is a young lawyer from a small town who has now happily put down roots in the big city. He's drawn to old houses full of character and was very happy renting an apartment in one side of this century old semi-detached duplex. When the other side of the semi-detached duplex came on the market, Brendan followed an old real estate rule? buy the worst house on a good street. The house is divided into an upper and a lower apartment, neither of which have been touched in 40 years and many of the original elements are long past their prime. On the second floor of the house the kitchen is cramped and worn, the bathroom is grotty, several rooms have virtually no lighting, the plaster walls are shabby and the third floor has odd peaks and slopes that challenge its design. Brendan moved in months ago with the intention of living on the modest main floor and basement and renting the upper two-story unit, which offers lots of potential appeal. As a first time homebuyer with no renovation experience, he's looking for direction on how to renovate the space and use his limited funds wisely, attract a great tenant, and ultimately reduce his 35-year mortgage which is scheduled to be paid off close to his 67th birthday. He needs Income Property to show him how.